Becker Capital Management Inc. lessened its stake in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 542,009 shares of the specialty chemicals company’s stock after selling 4,261 shares during the quarter. Becker Capital Management Inc. owned approximately 0.63% of Methanex Corporation worth $27,263,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Marshall Wace North America L.P. increased its position in shares of Methanex Corporation by 76.1% during the second quarter. Marshall Wace North America L.P. now owns 101,307 shares of the specialty chemicals company’s stock valued at $4,458,000 after acquiring an additional 43,776 shares during the last quarter. Intact Investment Management Inc. increased its position in shares of Methanex Corporation by 43.4% during the second quarter. Intact Investment Management Inc. now owns 64,800 shares of the specialty chemicals company’s stock valued at $3,696,000 after acquiring an additional 19,600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Methanex Corporation by 17.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,546 shares of the specialty chemicals company’s stock valued at $2,008,000 after acquiring an additional 6,822 shares during the last quarter. AGF Investments Inc. increased its position in shares of Methanex Corporation by 103.7% during the second quarter. AGF Investments Inc. now owns 409,320 shares of the specialty chemicals company’s stock valued at $18,080,000 after acquiring an additional 208,413 shares during the last quarter. Finally, Andra AP fonden increased its position in shares of Methanex Corporation by 69.7% during the second quarter. Andra AP fonden now owns 24,600 shares of the specialty chemicals company’s stock valued at $1,408,000 after acquiring an additional 10,100 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

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A number of brokerages recently commented on MEOH. Raymond James Financial, Inc. downgraded Methanex Corporation from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a research report on Tuesday, October 31st. Royal Bank Of Canada increased their price target on Methanex Corporation from $50.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, October 27th. TD Securities raised their target price on Methanex Corporation from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Scotiabank set a $53.50 target price on Methanex Corporation and gave the stock a “sector perform” rating in a research report on Thursday, October 26th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $60.00 target price on shares of Methanex Corporation in a research report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Methanex Corporation has a consensus rating of “Hold” and a consensus target price of $54.17.

Shares of Methanex Corporation (NASDAQ MEOH) traded down $0.65 during midday trading on Tuesday, hitting $50.55. The stock had a trading volume of 172,910 shares, compared to its average volume of 717,700. The stock has a market capitalization of $4,280.00, a PE ratio of 15.30, a PEG ratio of 0.94 and a beta of 1.80. Methanex Corporation has a one year low of $34.90 and a one year high of $53.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.59.

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The firm had revenue of $720.00 million for the quarter, compared to analyst estimates of $614.19 million. Methanex Corporation had a return on equity of 16.02% and a net margin of 9.81%. The business’s quarterly revenue was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) EPS. analysts predict that Methanex Corporation will post 3.59 EPS for the current fiscal year.

Methanex Corporation declared that its board has authorized a stock buyback program on Wednesday, July 26th that authorizes the company to buyback 1,660,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Methanex Corporation Company Profile

Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

Institutional Ownership by Quarter for Methanex Corporation (NASDAQ:MEOH)

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